(CelebrityAccess MediaWire) — As part of Sanctuary Group’s global restructuring, Tom Lipsky, President/CEO of Sanctuary Records Group in North America, will be leaving the company effective June 30th.

“Tom’s colleagues at Sanctuary greatly appreciate the efforts he has put in for the company over the last six years and we wish him every success in the future,” Andy Taylor, Executive Chairman of the Sanctuary Group plc, said in a statement.

“I hold the company, its leadership and entire staff in the highest regard,” commented Lipsky. “It has been a great 6 years.”

Lipsky joined Sanctuary in 2000, when parent company Sanctuary Group plc acquired CMC International Records, Inc. Lipsky worked with legendary artists on the label, including Lynyrd Skynyrd, Widespread Panic, Styx, The Allman Brothers, Tesla, Bad Company and Megadeth.

Lipsky will stay with the company until the end of June to assist with the transition of label leadership and functions dictated by the company’s global restructuring plans. –by CelebrityAccess Staff Writers